Indian crypto exchange WazirX is gearing up for a potential relaunch, contingent upon a decision from Singapore’s High Court set for May 13 regarding its restructuring and compensation plan. The exchange, which faced a major security breach losing $234 million in July 2024, aims to recommence operations and begin compensating affected users within 10 business days if the court approves its plan.

Key Updates:

• Parent Company Zettai has confirmed the completion of necessary steps preceding the court sanction hearing.
• The recent hack had been attributed to North Korean cybercriminals and prompted WazirX to halt both crypto and fiat withdrawals.
• Zettai’s restructuring proposal includes the issuance of recovery tokens designed to return up to 80% of users’ lost funds.

On April 16, 2025, the Indian Supreme Court dismissed a petition from victims of the hack, asserting that the issue fell outside its jurisdiction, reigniting discussions on India’s regulatory stance towards cryptocurrencies.

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For any further queries, WazirX encourages users to stay informed through official updates and assures them of their commitment to restoring services as soon as possible.